Monday, June 27, 2022

Q BioMed Inc (OTCMKTS:QBIO) Shares Catch Some Air

Q BioMed Inc (OTCMKTS:QBIO) is a penny stock that’s clearly begun to spur some major interest among players in the marketplace as shares power up off recent lows. The move higher has come on sharply increased volume and looks to be tightly tied to the company’s recent announcement that it has initiated production of Strontium-89 Chloride, a radiopharmaceutical indicated for the analgesic treatment of metastatic breast and prostate cancer bone pain.

Denis Corin, CEO of the Company said, “This is a major milestone in our short history. We are very excited to bring this product to market less than one year after finalizing the licensing agreement. There is an acute demand for an affordable and effective alternative to opiate based drugs in this patient population. We know this proven drug is effective and well tolerated with limited side-effects. We look forward to making it available as widely as possible and as quickly as possible. We believe there is significant opportunity to build this franchise and expand the revenue opportunity associated with it.”

Q BioMed Inc (OTCMKTS:QBIO) bills itself as a biomedical acceleration and development company in the United States. The company focuses on licensing, acquiring, and providing resources to life sciences and healthcare companies. Its primary target indication is for a therapeutic eye-drop for the treatment of glaucoma in adults. The company’s lead candidate is MAN-01.

The company was formerly known as ISMO Tech Solutions, Inc. and changed its name to Q BioMed Inc. in July 2015. Q BioMed Inc. was founded in 2013 and is based in New York, New York. QBIO is a biomedical acceleration and development company. The Company is focused on licensing and acquiring biomedical assets across the healthcare spectrum. QBIO is dedicated to providing these target assets the strategic resources, developmental support, and expansion capital the need to ensure they meet their developmental potential, enabling them to provide products to patients in need.

According to company materials, QBIO “is an acceleration and development company. We are focused on licensing and acquiring biomedical assets across the healthcare spectrum. Q is dedicated to providing these target assets the strategic resources, developmental support, and expansion capital the need to ensure they meet their developmental potential, enabling them to provide products to patients in need.”

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As noted above, shares of the stock have come powering off recent lows following the company’s press release announcing the long-awaited start of production of Strontium-89 Chloride as a pain reliever for bone pain associated with the treatment of metastatic breast and prostate cancer.

According to the release, “Approximately 70% of patients with advanced breast and prostate cancer metastases will develop bone metastases, an extremely painful condition. Bone metastases occur in most tumor types but are most prevalent in cancers of the breast, prostate, and lung. These bone lesions can cause serious skeletal complications, including spinal cord or nerve root compression, hypercalcemia of malignancy, pathologic fractures, and severe bone pain which can significantly compromise quality of life and may negatively affect survival. Palliation of pain, prevention of skeletal complications, and maintenance of quality of life are the primary objectives in managing patients with metastatic bone disease.”

Recent action has seen 28% tacked on to share pricing for the company in the past week. This is emblematic of the stock. QBIO has a history of dramatic rallies. In addition, the company has seen interest climb, with an increase in recent trading volume of 53% over the long run average.

It pays to take note of this fact due to the extremely small float size in the stock (of 5M shares). One is wise to respect the dynamic this may create — a mechanically driven price squeeze can result from this type of mix of small float and ramping attention from traders.

Earning a current market cap value of $59.3M, QBIO has a chunk ($313K) of cash on the books, which must be weighed relative to about $1.6M in total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $QBIO stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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